The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1887-12-04

From the east come the encouraging
reports that business prospects are in
proving, although R. G. Dun q Co. say
that the situation nowhere justifes
such speculative wildness as has ap-
peared in some branches. Money still
goes to the west, and even more to the
south, and bankers anticipate some
pressure as the New Year approaches
but the Treasury has increased its
deposits with banks 1872, 1872 curing
the past week, and so has withdra wn
from market only 100000 cash. Plans
of tariff reduction attract attention, but
| do not seem as yet to have affected the
demand for products. Exchanges run
ming nearly per cent. above those of
corresponding weeks last year, and
| railroad earnings showing an increase
exceeding 10 per cent, with shipments
from Chicago, by rail, 5000 tons larger
than for the same week last year, indi-
cate volume OF traffic never surpassed
at this season, though reaction from
the greater activity of September
causes, in some branches, complaint of
dullness.
The most important fact is, that in
vestment of foreign capital in this
country still continues. The latest evil
dence, sale of IS 600 900 Northern Pa
cltic bonds to foreign syndicate, came
at time when foreign sales of stocks
appeared TO toreshadow a contrary
movement. In October, merchandise
exports amounted to $76 .050,005, the
largest October report for five years,
and exceeded imports Dy $l5, 1876 O67
deducting undervaluations, interest,
and other items, the balance on mer-
chandise account would be not more
4! than SIS, 900 COO, leaving most of the net
| imports of specie, which were $l1 $685.
! 754, to represent new foreign capital
brought hither. In seven months not
less than $145, 600, 900 must have thus
arrived from abroad. which has gone tar
to support the continued development
of railroads, mines and manufactures
and the speculation In real estate.
Nevertheless the effects of partial loss
of crops begin to be felt. From most
quarters come complaints that collec-
| tions are slow or only fair, and though
rapid marketing of produce has brought
relief at most southern and some west
ern points, at many others money is
close and rates high. At Boston the
danger of large mercantile reverse has
been averted. and better tone prevails /;
at Philadelphia, business reaction from
past unusual activity i e., aud money
is in good supply; at western centres
the country demand still continues, and
the markets are genera ~ close.
Large railroad earnings are met in
many cases by unWonted increase in
expenses; thus the Pennsylvania shows
decrease in net earnings of Sl3 $50 for
October, and the New York Central in
creased gross earnings 1892, 1926 for the
last quarter, but expenses increased
81, 1855 592, so that net earnings fell off
1852, 465. Stocks closed Wednesday
about so cents per share higher than
last week. but showed hesitation a. the
close, and declined yesterday forenoon
q traction. Breadstuffs have advanced,
wheat ~ cents, OATS q cents, and corn
rose sharply yesterday; pork has ad-
7anced 25 cents per barrel, and lard 10
cents per 100 pounds, though hogs are
lower. The iron market is still weak at
Pittsburg, but q sbsde 6rmer for No. 9
at Philadelphia because of the scarcity
of the BEST grades. a decline in British
exports to this country from 120,
tons in September, 10 90 ,l42 in October,
encourages the trade.
Cotton goods are very Arm. and some
make advance again. The wooiens